Notice is hereby given, pursuant to section 24 of the Financial Reporting Act 2013, that the New Zealand Accounting Standards Board of the External Reporting Board has issued RDR Expected Credit Losses (Amendments to NZ IFRS 7).
RDR Expected Credit Losses (Amendments to NZ IFRS 7):
- applies to all Tier 2 for-profit reporting entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or by law;
- applies to annual periods beginning on or after 1 January 2018, with early application permitted; and
- is a disallowable instrument for the purposes of the Legislation Act 2012.
Copies of the standard may be inspected free of charge at the offices of the External Reporting Board (XRB), Level 7, 50 Manners Street, Wellington. Copies are also available on the XRB’s website at
Dated this 17th day of November 2016.
KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.